NEW SPECIALTY BEVERAGE COMPANY TARGETS GROWING 'GOOD-FOR-YOU' CONSUMER DEMAND
NEW SPECIALTY BEVERAGE COMPANY TARGETS
GROWING 'GOOD-FOR-YOU' CONSUMER DEMAND
NEW YORK, Feb. 3 /PRNewswire/ -- EverFresh Beverages, Inc., a "new age" specialty beverage company featuring leading national and regional brands of flavored sparkling juices and fruit-based drinks in both the United States and Canada, was formed here today, it was announced by James F. Pomroy, president and chief executive officer. Annual sales of the new company are approximately $175 million. Financial details of the acquisition were not disclosed.
The new company brings together the former EverFresh USA and EverFresh Canada beverage lines previously owned by John Labatt Ltd. of Canada, and the New Era Beverage Company whose prior owners were Guinness plc and Stroh Brewery Company.
Pomroy has been joined in the new venture by his former partner, Lawrence C. Conway, who has been named president of EverFresh Beverages USA.
Virtually all of EverFresh Beverage's brands are health-oriented and so-called "new age" products, the fastest growing segment of the market. They include EverFresh juices, drinks and sparklers -- Rich-N-Ready fruit punches among them; Wagner shelf stable juices; Mr. Citrus fruit drinks; Cool Down isotonic drinks; Beach Club sparkling fruit beverages; and a national market leader in the "new age" beverage category, the Sundance flavor line of 100 percent Natural Fruit Juice Sparklers. Formulated with 70 percent fruit juice and 30 percent sparkling water with no additional ingredients, Sundance delivers the highest juice content and quality of any sparkling juice on the market today.
"Our objective," said Pomroy, "is to build a major, new, and highly successful beverage company. Our strategy is aimed directly at rapidly growing consumer awareness of health and nutrition needs, and at meeting their demand for healthy yet satisfying alternatives to other carbonated beverages.
"We looked for and found several 'good-for-you' niche brands with obvious selling, marketing and manufacturing synergies, although obviously undermarketed," he added. "We made certain they have solid consumer franchises with clear potential, and that they offer manufacturing facilities where new products and sizes from one brand can be manufactured under another brand's label.
"The marketing and sales organization will be restructured in such a way that each EverFresh beverage product can be introduced into the right market at the right time. And finally," he said, "we'll update the graphics, energize the advertising, promotion and public relations, and make sure the packaging is responsive to evolving consumer needs."
Pomroy's and Conway's specialty beverage strategy has served them well before.
In 1983, they launched Sundor Group producing and marketing Sunny Delight Florida Citrus Fruit Punch, making it the category leader, then added Lincoln Apple Juice, Texsun Pink Grapefruit Juices, and Speas Farm Apple Juices. When the company was acquired by Procter & Gamble in 1989, Sundor's sales had increased five-fold to approximately $250 million.
The new company -- EverFresh Beverages, Inc. -- begins operations with three manufacturing plants; a national sales and distribution system in the U.S. and Canada, and approximately 600 production, sales, and administrative employees.
/CONTACT: Bob Kelly of Kerr Kelly Inc., 203-622-1723, for EverFresh Beverages/ CO: EverFresh Beverages Inc. ST: New York IN: FOD SU: SH -- NY018 -- 6007 02/03/92 09:06 EST